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Comment on Discussion Thread 😃 Thursday 21 May 2026

I am feeling very flat and unmotivated at the moment. I’ve been spending far too much time scrolling on Reddit instead of doing anything useful.

The good news from there is that the finance bro hive mind is slowly pivoting from outrage that they might have to pay more tax to poking and prodding at the new rules to try to figure out new stragegies and loopholes. Most of the ‘loopholes’ are along the lines of ‘I’m just going to invest in things that get me income then’ or ‘I’m just going to pay off my investment property and keep it as an income producing investment’ as if they are secret tricks they have found and not the exact thing the changes are supposed to lead to.

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Thornburywitch@aussie.zone ⁨4⁩ ⁨weeks⁩ ago
Yeah, we’re dealing with that whole issue here. So far, it seems a lot of people are hanging fire waiting to see exactly what the new legislation (which hasn’t been seen yet) actually says. Accountants are panicking left right and centre anticipating a LOT of adjustments to their clients’ financial arrangements when the new legislation does actually show up. Good business for us, but I’m anticipating some very long days towards the end of next financial year.

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- RustyRaven@aussie.zone ⁨4⁩ ⁨weeks⁩ ago
  I think there is a lot of learning going on at the moment. I find it a bit amazing how many people have things like investment properties while not actually understanding the basics of how negative gearing and tax work. They’ve just gone into it based on vibes and ‘everybody says’ and haven’t taken the time to learn about what they are doing. Then they’ve panicked about the tax changes based on vibes, but some are starting to slowly work out what it will actually mean for them and are realising the sky isn’t falling after all.
  
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  - Thornburywitch@aussie.zone ⁨4⁩ ⁨weeks⁩ ago
    Negative gearing worked very well for multiple decades as a vehicle for rewarding people for doing the hard yards (mortgage) to take personal responsibility for their future economic health. These people have grown up with the ‘its always been this way’ baked into their consciousness. Now they are learning what the phrase ‘middle class welfare’ actually means when it’s removed. I am stocking up on popcorn.
    
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    mertn22@aussie.zone ⁨4⁩ ⁨weeks⁩ ago
    I’m living in someone else’s investment property so I am stocking up on beans and rice.
    
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